{"id":73831,"date":"2024-12-31T17:03:20","date_gmt":"2024-12-31T06:03:20","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=73831"},"modified":"2025-11-10T20:16:05","modified_gmt":"2025-11-10T09:16:05","slug":"tuesday-31st-december-2024-global-markets-end-year-on-a-subdued-note-amid-economic-concerns","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/tuesday-31st-december-2024-global-markets-end-year-on-a-subdued-note-amid-economic-concerns\/","title":{"rendered":"Tuesday 31st December 2024: Global Markets End Year on a Subdued Note Amid Economic Concerns"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.96%, Shanghai Composite down 0.85%, Hang Seng up 0.09% ASX down 0.92%<\/li>\n\n\n\n<li>Commodities : Gold at $2615.35 (-0.14%), Silver at $29.24 (-0.58%), Brent Oil at $74.49 (0.86%), WTI Oil at $71.64 (0.85%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.516, UK 10-year yield at 4.608, Germany 10-year yield at 2.359<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Pending Home Sales m\/m&nbsp; 2.2% vs 0.9% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets mostly declined on the final trading day of the year as investors weighed China\u2019s manufacturing growth, which fell short of expectations. China\u2019s December purchasing managers\u2019 index (PMI) was 50.1, slightly below the anticipated 50.3, signaling Beijing\u2019s stimulus measures failed to significantly boost its slowing economy. A PMI above 50 indicates expansion, while below 50 suggests contraction.<\/p>\n\n\n\n<p>Hong Kong\u2019s Hang Seng Index closed marginally higher at 20,059.95 in a shortened trading session, while Mainland China\u2019s CSI 300 dipped 0.6%. Australia\u2019s S&amp;P\/ASX 200 slid 0.92% to 8,159.1, and Taiwan\u2019s Taiex fell 0.67%. Japan and South Korea\u2019s markets remained closed for the New Year\u2019s Eve holiday. South Korea reported December consumer inflation rising 1.9% year-on-year, up from 1.5% in November, with monthly prices increasing 0.4%.<\/p>\n\n\n\n<p>In the U.S., stocks retreated as the year concluded on a negative note. The Dow Jones Industrial Average dropped 418.48 points, or 0.97%, closing at 42,573.73. The S&amp;P 500 declined 1.07% to 5,906.94, and the Nasdaq Composite lost 1.19% to 19,486.78. Trading was volatile, with the Dow plunging over 700 points during the session, though no significant news drove the declines. Light trading was expected due to the holiday-shortened week.<\/p>\n\n\n\n<p>The subdued performance reflects investors&#8217; concerns over global economic growth and mixed market conditions as 2023 draws to a close.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>02:00 PM GMT &#8211; USD HPI m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets mostly declined [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":79815,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[196,215,339],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73831"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=73831"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73831\/revisions"}],"predecessor-version":[{"id":73835,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73831\/revisions\/73835"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/79815"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=73831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=73831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=73831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}